More Funds Shut Doors to New Investors

Just as some investors are coming back into the stock market, more mutual funds are closing their doors to their money.

In the first quarter of this year, 18 funds had so-called soft closures, according to Morningstar Inc., meaning they are no longer accepting money from most or all new investors. These include strong performers Fidelity Small Cap Discovery and Eaton Vance Atlanta Capital SMID-Cap, whose name is shorthand for a focus...